ADEP » Topics » EQUITY COMPENSATION PLAN INFORMATION

This excerpt taken from the ADEP DEF 14A filed Sep 24, 2009.

EQUITY COMPENSATION PLAN INFORMATION

The following table provides information about our common stock that may be issued upon exercise of options and rights under all of our equity compensation plans as of June 30, 2009, including options granted under the now-expired 1995 Director Option Plan and 1993 Stock Plan, as well as Adept’s currently effective 2001 Stock Option Plan, 2003 Stock Option Plan, 2004 Director Plan, 2005 Equity Incentive Plan and 2008 Employee Stock Purchase Plan.

Each of the plans requires stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under such plans, in some cases where required by law or the requirements of the applicable exchange where Adept common stock is listed.

 

Plan Category

   Number of securities
to be issued

upon exercise of
outstanding

options and rights
(a)
    Weighted-average
exercise price of
outstanding
options and rights
(b)
   Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding securities
reflected in column (a))

(c)
 

Equity compensation plans approved by security holders

   918,965 (1)    $ 10.68    777,392 (3) 

Equity compensation plans not approved by security holders (2)

   231,656      $ 6.58    120,921 (2) 

Total

   1,150,621      $ 9.86    898,313   
                   

 

(1) Excludes purchase rights accruing under our 2008 Employee Stock Purchase Plan, for which remaining available rights are included in column (c). Also excludes stock option grants for 419,000 shares of common stock made on June 4, 2009 to Adept executives and employees, which are subject to the approval of Adept’s stockholders, contained within Proposal Two of this proxy statement. With these stock options, the weighted-average exercise price of all outstanding options would be $8.05.
(2) Issued under our 2001 Stock Option Plan. The Board of Directors adopted the 2001 Plan in August 2001 and provided that 520,000 shares of common stock be reserved for issuance thereunder. Options under the 2001 Plan may be granted, as complies with applicable law, to employees either from time to time at the discretion of the Compensation Committee of the Board of Directors or automatically upon the occurrence of specified events, including, without limitation, reduction of at will employees’ salaries and the achievement of performance goals. The exercise price of the options is at 100% of the fair market value of Adept’s common stock on the date of the grant. Options generally vest over a time period generally consisting of monthly vesting in equal installments over a four-year period. Options granted in 2001 for reduction of at will employees’ salaries vested in equal monthly increments over the salary reduction period. All stock options granted under the 2001 Plan have an expiration date of 10 years from the date of the grant. In October 2003, the Board amended the 2001 Plan to require stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under the plan.
(3) Includes 608,490 shares available for issuance under the 2008 Employee Stock Purchase Plan as of July 1, 2009. Also includes 168,902 shares available for issuance at the end of fiscal 2009 under the 2003 Stock Option Plan, the 2004 Director Plan and the 2005 Equity Incentive Plan.

 

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This excerpt taken from the ADEP DEF 14A filed Sep 24, 2008.

EQUITY COMPENSATION PLAN INFORMATION

The following table provides information about our common stock that may be issued upon exercise of options and rights under all of our equity compensation plans as of June 30, 2008, including options granted under the now-expired 1995 Director Option Plan and 1993 Stock Plan, as well as Adept's currently effective 2001 Stock Option Plan, 2003 Stock Option Plan, 2004 Director Plan, 2005 Equity Incentive Plan and 1998 Employee Stock Purchase Plan. The information below does not reflect the 2008 ESPP proposed for approval today.

Each of the plans requires stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under such plans, in some cases where required by law or the requirements of the applicable exchange where Adept common stock is listed.

 

Plan Category

   Number of securities
to be issued
upon exercise of
outstanding

options and rights
(a)
    Weighted-average
exercise price of
outstanding

options and rights
(b)
   Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding securities
reflected in column (a))

(c)
 

Equity compensation plans approved by security holders

   726,077 (1)   $ 12.25    952,050 (3)

Equity compensation plans not approved by security holders (2)

   261,656     $ 6.50    90,921 (2)

Total

   987,733     $ 10.73    1,042,971  
                   

 

(1) Excludes purchase rights accruing under our 1998 Employee Stock Purchase Plan, for which remaining available rights are included in column (c).
(2) Issued under our 2001 Stock Option Plan. The Board of Directors adopted the 2001 Plan in August 2001 and provided that 520,000 shares of common stock be reserved for issuance thereunder. Options under the 2001 Plan may be granted, as complies with applicable law, to employees either from time to time at the discretion of the Compensation Committee of the Board of Directors or automatically upon the occurrence of specified events, including, without limitation, reduction of at will employees’ salaries and the achievement of performance goals. The exercise price of the options is at 100% of the fair market value of Adept's common stock on the date of the grant. Options generally vest over a time period generally consisting of monthly vesting in equal installments over a four-year period. Options granted in 2001 for reduction of at will employees’ salaries vest in equal monthly increments over the salary reduction period. All stock options granted under the 2001 Plan have an expiration date of 10 years from the date of the grant. In October 2003, the Board amended the 2001 Plan to require stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under the plan.
(3) Includes 450,741 shares available for issuance under the 1998 Employee Stock Purchase Plan as of July 1, 2008. The aggregate number of shares of Adept common stock available for issuance under the 1998 Employee Stock Purchase Plan was, prior to its expiration, subject to an annual increase as of the first day of Adept's fiscal year in an amount equal to the lesser of: (i) 120,000 shares, (ii) 3% of the common stock outstanding on the last day of the prior fiscal year, or (iii) a lesser amount as determined by the Board. Because of the adoption of the 2008 ESPP, no increase was made for fiscal 2009. Also includes 592,230 shares available for issuance at the end of fiscal 2008 under the 2003 Stock Option Plan, the 2004 Director Plan and the 2005 Equity Incentive Plan.

Since June 30, 2008, in connection with Adept's fiscal 2009 option grants and grants made as stock bonuses pursuant to Adept’s fiscal 2008 Executive and Senior Management Payment Plan, a significant number of additional options and restricted shares, reflecting a maximum amount of 346,064 common shares issuable, have been granted under Adept's equity incentive plans.

 

19


This excerpt taken from the ADEP DEF 14A filed Oct 12, 2007.

EQUITY COMPENSATION PLAN INFORMATION

The following table gives information about our common stock that may be issued upon exercise of options and rights under all of our equity compensation plans as of June 30, 2007, including options granted under the now-expired 1995 Director Option Plan and 1993 Stock Plan, as well as Adept’s currently effective 2001 Stock Option Plan, 2003 Stock Option Plan, 2004 Director Plan, 2005 Equity Incentive Plan and 1998 Employee Stock Purchase Plan.

Each of the plans requires stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under such plans, in some cases where required by law or the requirements of the applicable exchange where Adept common stock is listed.

 

Plan Category

  

Number of securities
to be issued
upon exercise of
outstanding
options and rights

(a)

   

Weighted-average
exercise price of
outstanding
options and rights

(b)

  

Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding securities
reflected in column (a))

(c)

 

Equity compensation plans approved by security holders

   802,433 (1)   $ 13.62    760,901 (3)

Equity compensation plans not approved by security holders (2)

   281,327     $ 8.32    90,662 (2)

Total

   1,083,760     $ 12.24    851,563  
                   

(1) Excludes purchase rights accruing under our 1998 Employee Stock Purchase Plan, for which remaining available rights are included in column (c).
(2) Issued under our 2001 Stock Option Plan. The Board of Directors adopted the 2001 Plan in August 2001 and provided that 520,000 shares of common stock be reserved for issuance thereunder. Options under the 2001 Plan may be granted, as complies with applicable law, to employees either from time to time at the discretion of the Compensation Committee of the Board of Directors or automatically upon the occurrence of specified events, including, without limitation, reduction of at will employees’ salaries and the achievement of performance goals. The exercise price of the options is at 100% of the fair market value of Adept’s common stock on the date of the grant. Options generally vest over a time period generally consisting of monthly vesting in equal installments over a four-year period. Options granted in 2001 for reduction of at will employees’ salaries vest in equal monthly increments over the salary reduction period. All stock options granted under the 2001 Plan have an expiration date of 10 years from the date of the grant. In October 2003, the Board amended the 2001 Plan to require stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under the plan.
(3) Includes 483,031 shares available for issuance under the 1998 Employee Stock Purchase Plan as of July 1, 2007. The aggregate number of shares of Adept common stock available for issuance under the 1998 Employee Stock Purchase Plan is subject to an annual increase as of the first day of Adept’s fiscal year in an amount equal to the lesser of: (i) 120,000 shares, (ii) 3% of the common stock outstanding on the last day of the prior fiscal year, or (iii) a lesser amount as determined by Adept’s Board. At June 30, 2007, 3% of Adept’s outstanding shares was equal to approximately 237,406 shares, thus the authorized shares were increased by 120,000. Also includes 368,532 shares available for issuance at the end of fiscal 2007 under the 2003 Stock Option Plan, the 2004 Director Plan and the 2005 Equity Incentive Plan, but does not include the 200,000 shares proposed in this proxy statement to be authorized for issuance under the 2005 Equity Incentive Plan if approved by the stockholders.

Since June 30, 2007, in connection with Adept’s reduction in force of employees, a significant amount of additional shares have become available for future issuance under Adept’s equity incentive plans.

 

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This excerpt taken from the ADEP DEF 14A filed Oct 20, 2006.

EQUITY COMPENSATION PLAN INFORMATION

The following table gives information about our common stock that may be issued upon exercise of options and rights under all of our equity compensation plans as of June 30, 2006, including options granted under the now-expired 1995 Director Option Plan and 1993 Stock Plan, as well as Adept’s currently effective 2001 Stock Option Plan, 2003 Stock Option Plan, 2004 Director Plan, 2005 Equity Incentive Plan and 1998 Employee Stock Purchase Plan.

Each of the plans requires stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under such plans, in some cases where required by law or the requirements of the applicable exchange where Adept common stock is listed.

 

Plan Category

  Number of securities to be
issued upon exercise of
outstanding options and
rights
(a)
    Weighted-average
exercise price of
outstanding options and
rights
(b)
  Number of securities
remaining available for
future issuance under equity
compensation plans
(excluding securities reflected
in column (a))
(c)
 

Equity compensation plans approved by security holders

  564,324 (1)   $ 16.79   770,122 (3)

Equity compensation plans not approved by security holders (2)

  356,579     $ 7.87   55,101  

Total

  920,903     $ 13.33   825,223  
                 

(1) Excludes purchase rights accruing under our 1998 Employee Stock Purchase Plan, for which remaining available rights are included in column (c).
(2) Issued under our 2001 Stock Option Plan. The Board of Directors adopted the 2001 Plan in August 2001 and provided that 520,000 shares of common stock be reserved for issuance thereunder. Options under the 2001 Plan may be granted, as complies with applicable law, to employees either from time to time at the discretion of the Compensation Committee of the Board of Directors or automatically upon the occurrence of specified events, including, without limitation, reduction of at will employees’ salaries and the achievement of performance goals. The exercise price of the options is at 100% of the fair market value of Adept’s common stock on the date of the grant. Options generally vest over a time period generally consisting of monthly vesting in equal installments over a four-year period. Options granted in 2001 for reduction of at will employees’ salaries vest in equal monthly increments over the salary reduction period. All stock options granted under the 2001 Plan have an expiration date of 10 years from the date of the grant. In October 2003, the Board amended the 2001 Plan to require stockholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under the plan.
(3) Includes 284,648 shares available for issuance under the 1998 Employee Stock Purchase Plan as of July 1, 2006. The aggregate number of shares of Adept common stock available for issuance under the 1998 Employee Stock Purchase Plan is subject to an annual increase as of the first day of Adept’s fiscal year in an amount equal to the lesser of: (i) 120,000 shares, (ii) 3% of the common stock outstanding on the last day of the prior fiscal year, or (iii) a lesser amount as determined by Adept’s Board. At June 30, 2006, 3% of Adept’s outstanding shares was equal to approximately 227,501 shares, thus the authorized shares were increased by 120,000. Also includes 540,575 shares available for issuance at the end of Fiscal 2006 under the 2003 Stock Option Plan, the 2004 Director Plan and the 2005 Equity Incentive Plan, but does not include the 72,000 shares proposed in this proxy statement to be authorized for issuance under the 2004 Director Plan if approved by the stockholders.

 

16


This excerpt taken from the ADEP DEF 14A filed Oct 6, 2005.

EQUITY COMPENSATION PLAN INFORMATION

 

The following table gives information about our common stock that may be issued upon exercise of options and rights under all of our equity compensation plans as of June 30, 2005, including options granted under the now-expired 1995 Director Option Plan and 1993 Stock Plan, as well as Adept’s 2001 Stock Option Plan, 2003 Stock Option Plan, 2004 Director Stock Option Plan, and 1998 Employee Stock Purchase Plan, referred to as the ESPP.

 

In October 2003, the Board of Directors amended the 1995 Director Option Plan and the 2001 Stock Option Plan to require shareholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under such plans.

 

Plan Category


  

Number of securities to be
issued upon exercise of
outstanding options and
rights

(a)


   

Weighted-average
exercise price of
outstanding options and
rights

(b)


  

Number of securities
remaining available for
future issuance under equity
compensation plans
(excluding securities reflected
in column (a))

(c)


 

Equity compensation plans approved by security holders

   346,566 (1)   $ 23.84    723,995 (3)

Equity compensation plans not approved by security holders (2)

   415,692     $ 7.28    11,695  

Total

   762,258     $ 14.81    735,690  
    

 

  


(1) Excludes purchase rights accruing under our 1998 Employee Stock Purchase Plan, for which remaining available rights are included in column (c).
(2) Issued under our 2001 Stock Option Plan. The Board of Directors adopted the 2001 Plan in August 2001 and provided that 520,000 shares of common stock be reserved for issuance thereunder. Options under the 2001 Plan may be granted, as complies with applicable law, to employees either from time to time at the discretion of the Compensation Committee of the Board of Directors or automatically upon the occurrence of specified events, including, without limitation, reduction of at will employees’ salaries and the achievement of performance goals. The exercise price of the options is at 100% of the fair market value of Adept’s common stock on the date of the grant. Options generally vest over a time period generally consisting of monthly vesting in equal installments over a four year period. Options granted in 2001 for reduction of at will employees’ salaries vest in equal monthly increments over the salary reduction period. All stock options granted under the 2001 Plan have an expiration date of 10 years from the date of the grant. In October 2003, the Board amended the 2001 Plan to require shareholder approval to materially increase the number of shares of common stock authorized for issuance or reduce the exercise price of any outstanding option under the plan.
(3) Includes 338,966 shares available for issuance under the 1998 ESPP as of July 1, 2005. The aggregate number of shares of Adept common stock available for issuance under the 1998 ESPP is subject to an annual increase as of the first day of Adept’s fiscal year in an amount equal to the lesser of: (i) 120,000 shares, (ii) 3% of the common stock outstanding on the last day of the prior fiscal year, or (iii) a lesser amount as determined by Adept’s Board. At June 30, 2005, 3% of Adept’s outstanding shares was equal to approximately 184,114 shares, thus the authorized shares were increased by 120,000. Also includes 373,334 shares available for issuance at the end of fiscal 2005 under the 2003 Stock Option Plan and 2004 Director Stock Option Plan, but excludes shares issuable under the 2005 Equity Incentive Plan proposed for adoption hereunder.

 

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